Now this question comes for four marks, guidelines right for formulating mission statement, the mission statement is to give the organization its own special separate identity, business emphasis and path for development. A company’s business is define by its goals, aims, the nature of target customer groups and the technologies and competencies it uses and the activities it performs so this should be specified in the mission statement, so everybody comes to know what the company is doing right now. Mission statement should be highly personalized that is it should be unique to the firm which they are developed. Profit making is not the only mission of a business.